MOSERS

Submitted by IFS on Sat, 04/01/2006 - 22:33
in

The Board of Trustees of the Missouri State Employees' Retirement System ("MOSERS") retained IFS, pursuant to a competitive bid, in December 2005, to assist them in evaluating their role as fiduciaries and further to review various aspects of MOSERS' internal operations and investment programs. The operational review focused on 1) identifying and controlling risks, 2) enhancing long-term investment performance, and 3) adopting and implementing industry best practices. The specific scope of work for this engagement included the following key task areas: (a) Statutory Framework; (b) Governance policies; (c) Organizational Structure and Resources; (d) Investment Management Structure and Costs; (e) Investment Policy; (f) Asset Allocation and Investment Risk; (g) Risk Management and Internal Controls; (h) Due Diligence Procedures; (i) Trust and Custody; (j) Legal Issues; (k) Fiduciary Liability Insurance. IFS presented its final report to the MOSERS Board in July 2006.